As at 31 March 2011 M plc has in issue 100 million ordinary shares of £1 each, 80p called up. On that day Terry paid 120p per share to buy 4,000 ordinary shares from Lester. In the event M plc becomes insolvent and is unable to meet its debts in full, what is the maximum Terry may be required to pay from his  personal resources?

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£ Nothing £800 c £4,000 d £2,000 a b